Thursday, June 8, 2017

San Jose was ranked as the most productive area in the US

This one is way to good to go in the Saturday Stat bin. According to The Brookings Institution, the San Jose Metro is the most productive in the whole country. Our economic output per employee is an epic $173,971 per year. This compares to $156,812 in Houston and $152,562 in the San Francisco metro. It is also one of the many reasons why many jobs in the Valley command such high salaries.

What is just as impressive is the rate of growth that labor productivity improved in San Jose versus every other metro in the country. Between 1978 and 2015, our average rate of growth is 2.72%. If you ask any economist, that is an insane rate of productivity growth--especially considering all of our bubbles and recessions. Constant innovation is now well ingrained in our culture and our bet on technology has certainly paid off.